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In this video tutorial on Business School 101, the concept of strategic alliances is introduced. A strategic alliance is defined as a voluntary arrangement between firms that involves sharing knowledge, resources, and capabilities to develop processes, products, or services. The rise of strategic alliances in recent decades is highlighted, with firms forming these partnerships to enhance strengths or mitigate weaknesses. The tutorial also aims to address why firms choose to enter these alliances and explores the major types of strategic alliances. Additionally, it promises to provide well-known examples from the business world to illustrate these concepts.